Net Income Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Net Income Per Share

14) Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:

	Three Months Ended March 31,
	2020		2019
Numerator:
Net income	$	69.1	$	12.5
Denominator:
Shares used in net income per common share – basic		54,918,000		54,147,000
Effect of dilutive securities:
Restricted stock units, stock appreciation rights and shares issued under employee stock purchase plan		318,000		701,000
Shares used in net income per common share – diluted		55,236,000		54,848,000
Net income per common share:
Basic	$	1.26	$	0.23
Diluted	$	1.25	$	0.23

Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the treasury stock method) if securities containing potentially dilutive common shares (restricted stock units (“RSUs”) and stock appreciation rights (“SARs”)) had been converted to such common shares, and if such assumed conversion is dilutive.

For the three months ended March 31, 2020 and 2019, there were approximately 36,100 and 128,200 weighted-average restricted stock units, respectively, that would have had an anti-dilutive effect on EPS, and were excluded from the computation of diluted weighted-average shares.